July 1, 2020 / 5:01 AM / 2 days ago

Ride-hailing service Bolt expands to electric bikes with Paris launch

TALLINN, July 1 (Reuters) - Uber Technologies Inc’s European rival, Bolt, on Wednesday launched an electric bike-sharing service in Paris, and said it would expand the offering to more European capitals this year.

Ride-hailing service Bolt also offers scooter rental and food delivery.

“Our new e-bikes sharing service will help to fulfil the demand for light, green individual modes of transport, which has seen growth due to European cities gradually coming out of COVID-19 lockdown,” Dmitri Pivovarov, unit head at Bolt, said in a statement.

In May, Bolt raised 100 million euros from London-based investment firm Naya Capital Management in a deal valuing the Estonian firm at 1.7 billion euros ($1.91 billion).

Founded in 2013, Bolt now has more than 30 million users in 35 countries. It has grabbed business from Uber mainly in major African cities and in Eastern Europe. ($1 = 0.8891 euro) (Reporting by Tarmo Virki in Tallinn Editing by Matthew Lewis)

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